Finding a great business buy starts with combing area newspapers, making phone calls and checking buyer information web sites like this one. The prospective Buyer could be a Corporation, Private Investment Group or a savvy Private Investor who knows exactly what type of business he or she wants to operate. Although most first time buyers spend a good amount of time exploring options in their specific field of interest, they frequently ask - "What kinds of businesses do you have?".
Though we have many types of business for sale,we can only answer that question effectively when we know the buyer's level of capital, professional skills expectations of what he wants the business to produce. For example, if we just listed a major auto manufacturing business for sale, the prospective buyer has unlimited capital and years of experience in automobile manufacturing, the match would be more than obvious. A match like that can only happen when we know all the pieces on the chessboard - for both sides.
In other words, like yin and yang or the two poles of a magnet, business selling price to buyer purchase resources, desired business operation size and hours to the existing business opportunity and other details have to be matched as closely as possible for optimum satisfaction for both parties at the deal's closing.
Honesty on the part of the buyer is your responsibility - doing all possible to insure honesty on the part of the seller is the responsibility of the experienced business broker.
After an honest and thorough evaluation of A) the buyer's needs, and abilities to consummate the sale and B) the business seller's assets and and what he needs to receive to part with them - the prospective business buyer can then begin to view our web site and access the non-confidential business descriptions by simply selecting the "Businesses For Sale Listings Section". This page will detail our business opportunities, a description of each business, financial details and the asking prices.
As you, the prospective business buyer, search the available business buys you will receive multiple lists of suitable business opportunities. At this stage of searching the available businesses, you will enter a new level involving the necessary disclosure of confidential information needed for the purchase or sale of any business.
This new level involves mutual trust and an obligation between the prospective Buyer, our company (the business broker) and the Seller(s) of the business(es) you are interested in.
Confidentiality is a must, to protect the prospective buyer from employers, employees, or the competition learning prematurely about the possible change of ownership. It also protects the seller from untimely employee loss, overly wary vendors, competitor opportunism, landlords, bankers, creditors, etc.
It is a constructive move for all parties, for the prospective buyers to sign Non-Disclosure and Confidentiality Agreements before becoming privy to confidential information.
One of the most important elements of the purchase process is the actual business profile. This report is written to provide the prospective Buyer with the hard facts about the present state of the business being bid on. The prospective buyer must then evaluate whether the business offering does or does not suit his needs and expectations.
A typical Business Profile is a detailed description of the business - consisting of a summary of financial data and additional business facts such as lease information, employees, inventory lists, contracts with vendors or customers and any other information deemed relevant. After these steps have been taken, a buyer will have a sound basis for proceeding or exiting the sale of the business.